Rupee Up 4 Paise Against Dollar in Early Trade

A street side restaurant owner holds a bundle of Indian currency notes in New Delhi. (Reuters)

Mumbai: The rupee edged up by 4 paise to 66.93 against the dollar in early trade at the forex market on Monday on increased selling of the American currency by banks and exporters.

Besides, increased foreign fund inflows, weakness of the dollar against some other currencies overseas, and a higher opening in the domestic equity market boosted the rupee value against the dollar, forex dealers said.

The rupee had recovered by 5 paise to close at 66.97 in Friday's trade on improvement in trade deficit data and easing fears of a rate hike by the US Federal Reserve.

Meanwhile, the benchmark BSE Sensex rallied by 72.03 points, or 0.25 per cent, to 28,671.06 in early trade.